Maybe I am missing something. To make the math easier, assume I take 20 O/W inter-island flights on HA and give them my CO Onepass number for mileage credit. My cost 3 days ago was $52 for a O/W HA ticket or approx $1040 for 20 flights total. For this I receive the flights AND 20,000 Onepass miles (10,000 that count for Elite status). My freebie flight choices are:

(A) Take 2 RT flight on HA, worth 4 X $52 = $208 (or)

(B) Take 1 RT flight on CO, typically worth $400-$2400*

It really does not matter what the other airlines math ...this is a very good $$$$-saving deal.

* I paid $2400 a month ago PHL-SEA-PHL for last minute travel